China's currency is having an even better year than the US dollar. Here's why

China is grappling with a slowing economy, yet its currency has rarely been stronger. The yuan is also outperforming the US dollar this year even as the Fed prepares to hike interest rates. So what gives?The Chinese currency has soared more than 8% in 2021, according to an index that tracks the yuan's performance against 24 other currencies. Based on that gauge — the CFETS RMB Index — it is just